Lasting Powers of Attorney: Have you protected your future?

Arranging Lasting Powers of Attorney (LPA) for Finance and Property and for Health and Welfare helps you prepare for your future. These documents allow you to appoint trusted attorneys to look after your health and assets needs, should the time come when you are unable to do so yourself. 

Consider these 5 key points to help you plan ahead:

1. LPA’s are powerful documents and it is critical you understand the details involved. Ensure you appoint someone you trust as your attorney, as they would take over your welfare care and estate management in the event you were unable to.
2. There are 2 types of LPA’s, and you can make either one or both. The first, Finance and Property, includes running your bank accounts, managing your property and dealing with pension, bills, taxes and investments. The second, Health and Welfare, applies to decisions regarding living arrangements, medical care, daily routines and life-sustaining treatment.
3. You can only set up an LPA if you have full mental capacity. As you can revoke an LPA at any point, and change appointed attorneys, the most important thing is to plan ahead and set the documents up early, well before they may be required. 
4. Although you can create an LPA yourself, seeking legal advice is highly recommended due to their sensitive nature. The documents are likely to be used when you are at your most vulnerable, so having a solicitor prepare them ensures both you and your assets are safeguarded. 
5. Some solicitors offer fee reductions if you set up both LPA’s simultaneously, or if a couple wants to set them up together. The LPA doesn’t come into effect until it has been registered with the Office of the Public Guardian, which can take up to 20 weeks.

At SE-Solicitors we understand the importance of preparing for your future. Our specialist solicitors will be at your side every step of the way, helping you put these documents in place and advising you with your best interests in mind.

Contact Kristina Dunne today at kdunne@se-solicitors.co.uk or call 01869 252761 to see how we can help.